Key facts
- The U.S. Department of Justice has expanded its investigation into beef affordability.
- Eight major retailers, including Walmart, Costco, Amazon, Kroger, Albertsons, Aldi, Publix, and Ahold Delhaize USA, are now part of the probe.
- The antitrust division is investigating potential price manipulation and collusion in the beef market.
- This expansion follows a criminal investigation into large meatpackers.
- U.S. beef prices hit a record high in May.
The U.S. Department of Justice's antitrust division has broadened its investigation into the affordability of beef, adding eight major retailers to its probe. This expansion includes prominent companies such as Walmart, Costco, Amazon, Kroger, Albertsons, Aldi, Publix, and Ahold Delhaize USA.
Associate Attorney General Stanley Woodward has reportedly sent letters to these companies concerning the recent surge in retail beef prices. The antitrust division's efforts are part of a larger criminal investigation into the conduct of large meatpackers, initiated after President Donald Trump accused them of manipulating and colluding to inflate beef prices.
Earlier this year, meatpacker Tyson Foods agreed to a $82.5 million settlement to resolve a class-action lawsuit alleging it conspired to inflate U.S. beef prices by limiting supply. Tyson Foods, Cargill, JBS USA, and National Beef Packing Company collectively process approximately 85% of the U.S. grain-fattened cattle.
U.S. beef prices reached a record high in May, adding to the financial strain on consumers already contending with increased living costs, partly driven by soaring gasoline prices linked to the Middle East conflict. The retailers added to the investigation did not immediately respond to requests for comment.